Sphera Funds Management LTD. Invests $3.13 Million in Gemphire Therapeutics (GEMP)

Sphera Funds Management LTD. purchased a new position in Gemphire Therapeutics (NASDAQ:GEMP) during the first quarter, Holdings Channel reports. The fund purchased 481,046 shares of the company’s stock, valued at approximately $3,132,000.

Several other large investors also recently bought and sold shares of GEMP. Virtu Financial LLC bought a new stake in shares of Gemphire Therapeutics in the 4th quarter worth approximately $120,000. Northern Trust Corp raised its holdings in shares of Gemphire Therapeutics by 63.7% in the 1st quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock worth $196,000 after purchasing an additional 11,708 shares during the period. Bamco Inc. NY raised its holdings in shares of Gemphire Therapeutics by 33.8% in the 4th quarter. Bamco Inc. NY now owns 383,970 shares of the company’s stock worth $3,053,000 after purchasing an additional 97,009 shares during the period. Finally, Exchange Capital Management Inc. raised its holdings in shares of Gemphire Therapeutics by 1,168.5% in the 1st quarter. Exchange Capital Management Inc. now owns 536,281 shares of the company’s stock worth $3,491,000 after purchasing an additional 494,005 shares during the period. 36.20% of the stock is currently owned by institutional investors.

GEMP has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Raymond James initiated coverage on shares of Gemphire Therapeutics in a report on Wednesday, May 16th. They set an “outperform” rating and a $22.00 target price on the stock. HC Wainwright boosted their target price on shares of Gemphire Therapeutics from $22.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, ValuEngine raised shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Gemphire Therapeutics has a consensus rating of “Buy” and an average price target of $22.64.

Shares of GEMP stock opened at $6.08 on Friday. The company has a current ratio of 5.57, a quick ratio of 5.57 and a debt-to-equity ratio of 0.37. Gemphire Therapeutics has a 1 year low of $4.75 and a 1 year high of $21.59. The firm has a market cap of $86.53 million, a price-to-earnings ratio of -1.88 and a beta of 4.18.

Gemphire Therapeutics (NASDAQ:GEMP) last issued its earnings results on Tuesday, May 8th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.05. sell-side analysts expect that Gemphire Therapeutics will post -2.57 EPS for the current fiscal year.

About Gemphire Therapeutics

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.

Want to see what other hedge funds are holding GEMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gemphire Therapeutics (NASDAQ:GEMP).

Institutional Ownership by Quarter for Gemphire Therapeutics (NASDAQ:GEMP)

Receive News & Ratings for Gemphire Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gemphire Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply